Raman borrowed 10,24,000 from a Bank for one year. If the bank charges interest at the rate of 5% per annum, compounded half
yearly, then what amount is to be repaid?
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Answer:
10,75,840
Step-by-step explanation:
A=P(1+i/2)^2
=1024000(1+0.05/2)^2
10,75,840
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